March 31, 2015

USA Today Article

I was recently quoted in a USA Today – NerdWallet article this past Saturday March 28th, 2015 about Cancelling Insurance titled: Is It OK to cancel your life insurance?

As with all insurance advice it is best to seek assistance from an Insurance Agent or Insurance Broker in your state, before making any decisions to purchase, change, or cancel any insurance product or policy.

My stance on Whole Life and Universal Life Insurance has not changed much in the past five years.  For the vast majority of Americans, I believe that Level Term Life Insurance is the best deal and serves to protect  you and your family in the most logical way.   Whole Life Insurance- often sold through participating whole life insurers can have a place in a small minority of Americans product mixes, but it is rare.   For most people I believe that a level term policy tends to be the best fit.   You will most likely meet insurance agents who do not agree with me.

The debate about term and whole life insurance will rage I am sure for as long as both forms of insurance are available to the general public.   However as time goes by it seems certain that more people will opt for the lower costing term policies and less people will opt for the more expensive and somewhat antiquated participating whole life insurance options.

One special note on cancelling any life insurance policy:   Make sure you do your homework with this.  Cancelling any form of life insurance is permanent.  Please make sure you have the coverage that you need in place before making changes that you cannot alter.

Scott W Johnson – 0H11625

Marindependent Insurance Services LLC – 0K10734

Independent Insurance based in Marin County USA

Tiburon, Mill Valley, San Rafael, Novato, Sausalito, Novato, Larkspur, San Anselmo